Aclarion (NASDAQ:ACON) Director Amanda Williams Buys 5,857 Shares of Stock

Aclarion, Inc. (NASDAQ:ACON) Director Amanda Williams purchased 5,857 shares of the business’s stock in a transaction on Monday, August 17th. The shares were acquired at an average price of $2.73 per share, for a total transaction of $15,989.61. Following the completion of the acquisition, the director directly owned 25,857 shares in the company, valued at approximately $70,589.61. This represents a 29.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Aclarion Stock Up 6.5%

NASDAQ:ACON opened at $2.77 on Thursday. The firm has a market capitalization of $7.98 million, a P/E ratio of -0.37 and a beta of 1.21. Aclarion, Inc. has a twelve month low of $1.95 and a twelve month high of $12.03. The company has a fifty day moving average of $2.68 and a 200-day moving average of $2.98.

Aclarion (NASDAQ:ACON) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.07). The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.03 million. Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%. On average, analysts anticipate that Aclarion, Inc. will post -4.51 EPS for the current fiscal year.

Aclarion announced that its Board of Directors has approved a share buyback plan on Wednesday, April 22nd that permits the company to repurchase $2.50 million in shares. This repurchase authorization permits the company to buy up to 31% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Ascendiant Capital Markets lifted their price objective on shares of Aclarion from $7.00 to $7.50 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Weiss Ratings upgraded shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.50.

Aclarion Company Profile

Aclarion, Inc, a healthcare technology company, leverages for Magnetic Resonance Spectroscopy (MRS) in the United States. It develops NOCISCAN Post-Processor suite of software applications comprising NOCICALC that receives the raw un-processed NOCISCAN MRS exam data and post-processes that raw data into final spectra and performs various degenerative pain biomarker; and NOCIGRAM, a clinical decision support software. The company was formerly known as Nocimed, Inc and changed its name to Aclarion, Inc in December 2021.